Monday, 9 December 2013

For every Procurement Department, Contract Management plays a vital role. After the issuance of Purchase Order, it helps procurement team to accomplish the agreed deliverables mentioned in the Purchase Order. It also acts as a bridge between the Legal and Supply Chain Department to operate as single entity.

Last weekend, we had a wonderful gathering with the bunch of folks from Legal and Supply Chain Departments. They randomly started discussing about connection of Legal Department with Procurement Contracts. They have mentioned some interesting points about the importance of Contract Management to help legal department in Procurement Contracts.

Wednesday, 16 October 2013

In this holy month,
an expected number of three plus million Muslims have travelled to the
valley of Arafat to complete the main corner of their Hajj pilgrimage.
The first day of Eid Al Adha, whereby all
Muslims around the world celebrate this holy event with prayers,
sacrifices and family gatherings. At
StrategicSourcing.pk we sincerely wish each and every one of our readers
a happy Eid and and wish them all success and prosperity in this coming
year Insha’Allah. Have a blessed Eid Al Adha everyone!

Tuesday, 10 September 2013

For
many Procurement and Supply Chain professionals Excel is perceived to
be ‘a life saver’ or more elaborately put, the ‘unspoken ERP module’.
Even professionals with years of experience tend to put the tool
squarely in their comfort zones but in fact, for those professionals
Excel in reality only acts as a bridge to close those analytical gaps
within their operating ERP’s and as Forbes describes it, ‘the most
dangerous software on the planet’.

Wednesday, 21 August 2013

The cloud,
social, access to information and mobile are driving market forces, and
to remain effective, competitive and relevant companies need to embrace
them. That particularly rings true for sourcing managers.

Gartner released a report on the impact these forces will have on strategic sourcing
in 2013, and in it Frank Ridder, research vice president at Gartner,
says that sourcing managers need to better understand “wider IT service
market trends” to more effectively do their jobs.

Saturday, 27 July 2013

Previously we discussed the term
emergency procurement and the methods for acquiring goods and services during
this process. The key aspect now is to understand how to plan individual
emergency procurement. Whether man-made or natural, preplanning can always
minimize the risk factors involved in an emergency procurement. There are some
pre and post emergency methods which may help the procurement department
respond to situations proficiently.

Tuesday, 9 July 2013

Any organization’s general concern, especially
from any service industry, is to cater for emergency requirements. During the
course of consulting it is often observed that in order to achieve this,
procurement departments find it difficult to operate through normal procurement
policies. Contracts from existing contractors often stand ineffective based on
immediate needs and depending on the severity of a disaster incident. It is
therefore important to establish an emergency procurement and purchasing policy
prior to emergence of such situations to ensure that the cost spent on such
commodities is reasonable and procedures are well followed. While establishing
a procurement policy, it is also essential to clearly define the criteria for
situations requiring prompt and immediate action to limit or avoid damage to
person, property or service standard of the organization.

Thursday, 4 July 2013

What is your
spend opportunity? When you take into account that supplier spend can represent
from 40-80% of revenue (dependent upon industry and organization), and that
indirect spend is a large portion of supplier spend (at least 55% for
non-manufacturing companies and as high as 50% for manufacturing organizations), the opportunity for Strategic Sourcing Centers of Excellence to capitalize on all types of spend is extreme. And for those looking for quick
win, a laser focus on only indirect spend can bring vast rewards.

Thursday, 13 June 2013

Tejari is delighted to be hosting a series of free web based briefings over the next three months. The briefings will be streamed from a virtual briefing room, so there's no need to venture out into the hot summer sun as you can access these briefings from the comfort of your office!

So what can you expect?

3 Online Briefings

Procurement and Supply Management Professionals

The first briefing, Running Successful eAuctions,
will go live on the 1st July 2013 and will cover: What is an eAuction,
how you go about planning an eAuction, how to execute an eAuction, and
what results you can expect from running an eAuction.

The
next briefing, Best Practices in Programme and Process Management for
procurement opens in August, and the season ends in September with The
True Picture: Visibility through Contract Management.

Once you've registered, you'll immediately enter the virtual briefing room and the first briefing will go live on 1st July 2013. We'll make sure we let all registered attendees know as soon as the briefing is live.

We hope you can join the briefings and please do let us know if you'd like to see any further briefing topics covered in 2013.

Tuesday, 4 June 2013

Supplier
compliance. This encompasses elements of supplier relationship
management – from delivering what the company needs when it’s needed, at
the agreed upon price, to complying with ethical standards. Supplier
compliance has dominated recent headlines, especially regarding
Wal-Mart’s stronger regulations on unauthorised subcontracting.

Economic
risks. While there are signs that the economy is improving, companies
are closely watching for any wavering indicators of regression that
could affect customer spending, currency values and global growth.

Authored by Asif KhanAlthough it’s rather obvious that CFOs always have money on the mind, the CFO Survey 2013, published by 4C Associates, highlights that rising prices are a growing worry for procurement’s finance colleagues: 65 per cent of participants listed ‘price risk’ as their top concern – up more than 15 per cent since last year.

I
was with my husband at a recent event and an old friend of his asked
what I did in the business world. I told him and then he said, “Wow, is
what you do related to what some call Supply Chain?”
I of course told him yes, and then this highly educated man said to me,
“What’s a Supply Chain?” I laughed and proceeded to tell him the
following:

Spend Analysis is
a topic that is almost on every procurement professional's mind these
days and this is why organizations are dedicating more time and effort
to spend management, in which the spending patterns are identified and
the organizations can point out the bottlenecks and increase
opportunities for long-term savings.

However, organizations are
often intimidated as they all know it's not an easy task. It involves a
lot of data that may come from multiple sources, determining a
classification system and classifying each piece of data which is
usually linked to a financial transaction. But before even beginning to
decide where to extract the data from, you need to consider a few
factors such as what you are spending and where you're spending on and
this will actually be your starting point!